Lower feed prices offer some relief for protein producers

Corn at $3—the notion was unimaginable a year ago when corn was at $5.49, or even two months ago, when it was at $4.48.Taken together with a drop in soymeal prices, which fell from around $400 to the $340s, it represents huge cost savings for poultry producers and signals that poultry output will likely stop contracting. Input costs are at the point where cheaper breast prices will be OK, given leg quarters in the 40-cent range and wings in the $1.40 range. Egg and turkey producers could ...

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